Rent Reconsideration Sample Clauses

Rent Reconsideration. (a) The Rent required by this Lease is subject to adjustment at the request of the Lessor or the Lessee after the end of the and Lease Years of this Lease in order to maintain the Rent under this Lease in an amount and structure consistent with “fair market value rent.” “Fair market value rent” for the purposes of this section means the most probable rent, as of a specific date, in cash or in terms equivalent to cash, for which the Premises, under the terms and conditions of this Lease, should rent for its highest and best permitted use after reasonable exposure in a competitive market under all conditions requisite to a fair leasing opportunity, with the Lessor and the Lessee each acting prudently, knowledgeably, and for self-interest, and assuming that neither is under undue duress. Once the “fair market value rent” is adjusted, the amount will be subject to the provisions of Section 5.3 above.
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Rent Reconsideration. 5.4 Destruction of Residence and Abatement of Residential Rent 5.5 Productive Component
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Rent Reconsideration. The Rent required by this Lease is subject to adjustment at the request of the Lessor after the end of TBD Lease Years of this Lease, and at the request of the Lessee at any time, in order to maintain the Rent under this Lease in an amount and structure consistent with “fair market value rent.” “Fair market value rent” for the purposes of this section means the most probable rent, as of a specific date, in cash or in terms equivalent to cash, for which the Premises, under the terms and conditions of this Lease, should rent for its highest and best permitted use after reasonable exposure in a competitive market under all conditions requisite to a fair leasing opportunity, with the Lessor and the Lessee each acting prudently, knowledgeably, and for self-interest, and assuming that neither is under undue duress. Within sixty (60) days after the applicable Lease Year (in the case of the Lessor), or at any time (in the case of the Lessee), the Lessor or Lessee may request a Rent adjustment by providing written notice to the other party. Within thirty (30) days after providing or receiving a written request for a Rent adjustment, the Lessor will, as applicable, either submit an appraisal request to the Department of the Interior’s Appraisal and Valuation Services Office, or its successor, for an appraisal to determine the “fair market value rent” of the Premises, or initiate a market study or other valuation process allowed for under NPS policy to determine “fair market value rent.” The requesting party will be responsible for the cost of any appraisal, market study, or other valuation process initiated under this section. Regardless of the method used to determine “fair market value rent,” the determination must take into consideration any restrictions on the use of the Premises or terms of the Lease that limit the value and/or the highest and best use of the Premises; any past Improvements constructed or installed by the Lessee prior to Rent adjustment, with the Lessor’s approval, and consistent with the terms of this Lease; and, any future Improvements to be constructed or installed by the Lessee after Rent adjustment.
Sample 1
Rent Reconsideration a. In order to maintain the Rent under this Lease in an amount and structure consistent with “fair market value rent,” the Rent required by this Lease shall be subject to reconsideration at the request of the Lessor or the Lessee at 5th year intervals (based on lease year). The rent reconsideration will also be available in the event of extraordinary or unanticipated changes that could impact market value of the property.
Sample 1

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